Accolade (NASDAQ:ACCD) Shares Up 2.9%

Accolade, Inc. (NASDAQ:ACCD - Get Free Report)'s share price shot up 2.9% on Wednesday . The company traded as high as $8.67 and last traded at $8.64. 259,204 shares were traded during mid-day trading, a decline of 64% from the average session volume of 712,323 shares. The stock had previously closed at $8.40.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ACCD. Wells Fargo & Company increased their price objective on shares of Accolade from $10.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 9th. Barclays started coverage on shares of Accolade in a research report on Wednesday, January 3rd. They issued an "equal weight" rating and a $13.00 price objective on the stock. Piper Sandler upped their target price on shares of Accolade from $12.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 9th. Leerink Partnrs restated an "outperform" rating on shares of Accolade in a research note on Monday, February 26th. Finally, SVB Leerink started coverage on shares of Accolade in a research note on Monday, February 26th. They issued an "outperform" rating and a $16.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.67.

Accolade Trading Up 3.6 %

The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48. The stock's 50 day moving average price is $10.32 and its 200-day moving average price is $9.93. The stock has a market capitalization of $673.45 million, a P/E ratio of -5.27 and a beta of 2.08.

Institutional Investors Weigh In On Accolade

Several institutional investors have recently bought and sold shares of ACCD. Fairman Group LLC acquired a new stake in Accolade in the fourth quarter valued at approximately $14,139,000. Ieq Capital LLC acquired a new stake in Accolade in the fourth quarter valued at approximately $13,387,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Accolade by 111.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company's stock valued at $19,033,000 after acquiring an additional 946,970 shares in the last quarter. Millennium Management LLC boosted its stake in Accolade by 65.4% in the second quarter. Millennium Management LLC now owns 2,127,585 shares of the company's stock valued at $15,744,000 after acquiring an additional 840,925 shares in the last quarter. Finally, ARK Investment Management LLC boosted its stake in Accolade by 12.6% in the fourth quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company's stock valued at $81,731,000 after acquiring an additional 762,685 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Accolade Company Profile

Accolade, Inc, together with its subsidiaries, engages in the development and provision of personalized and technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.